CreatripTeam

South Korean luxury second-hand platform Gugus announced on the 3rd that it is expanding its 'pre-settlement system,' which was first introduced in the industry. This service allows consignors to receive partial payment upfront before their items are sold. Originally catering to high-end brand bags, watches, and jewelry, this system has been broadened due to Gugus's strong financial foundation and liquidity. Gugus, founded in 2002, has maintained profit for 23 consecutive years and boasts a liquidity ratio of 491.3% as of 2024. They reported substantial transaction volumes and earnings as well. The company plans to continue innovating customer-centric services by setting new standards in the pre-owned luxury market.